On a recent chilly Thursday, construction cranes moved girders over an emerging plaza near State Farm Arena. The Hotel Phoenix's façade gleamed in sunlight as the $5 billion Centennial Yards project took shape within the 50-acre Gulch — an area previously considered too difficult to develop. Weedy parking lots and active rail lines are gradually transforming into a fresh skyline featuring thousands of apartments, new streets, retail, and office towers that will eventually connect downtown's sports venues to the broader city core.
Tony Ressler initiated this vision a decade ago while purchasing the Atlanta Hawks, recognizing the franchise as a sound investment for an ascending city. However, downtown struggled significantly — visiting teams avoided staying there, and limited entertainment options existed for fans outside arena events. Ressler identified the Gulch as a critical gap requiring repair.
Nearly a decade into development, Ressler affirms the healing process is underway: "These are not fake cranes. Those are not fake buildings. This is happening."
Source: The Atlanta Journal-Constitution, published December 2025.
